Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Unit contribution margin Contribution margin ratio Contribution margin Net operating income 500 Scenario 1 Raises Sales Price to $750 per Canoe $ 92,500 178,500 $ 271,000 $ 185.00 357.00 $ 542.00 700 $ 129,500 178,500 $ 308,000 Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount. % Contribution Margin Income Statement $185.00 255.00 $ 440.00 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent 850 % $ 157,250 178,500 $ 335,750 $ 185.00 210.00 $ 395.00 Scenario 3 Decrease Fixed Cost by 20 Percent %

Riverside Incorporated makes one model of wooden canoe. Partial information for it follows: Number of Canoes Produced and Sold Total costs Variable costs Fixed costs Total costs Cost per unit Variable cost per unit Fixed cost per unit Total cost per unit Unit contribution margin Contribution margin ratio Contribution margin Net operating income 500 Scenario 1 Raises Sales Price to $750 per Canoe $ 92,500 178,500 $ 271,000 $ 185.00 357.00 $ 542.00 700 $ 129,500 178,500 $ 308,000 Riverside sells its canoes for $650 each. Next year Riverside expects to sell 1,000 canoes. Required: Complete the Riverside's contribution margin income statement for each independent scenario. Assuming each scenario is a variation of Riverside's original data. Note: Round your unit contribution margin and contribution margin ratio to 2 decimal places (i.e. 0.1234 should be entered as 12.34%) and all other answers to the nearest dollar amount. % Contribution Margin Income Statement $185.00 255.00 $ 440.00 Scenario 2 Increase Sales Price and Variable Cost per Unit by 10 Percent 850 % $ 157,250 178,500 $ 335,750 $ 185.00 210.00 $ 395.00 Scenario 3 Decrease Fixed Cost by 20 Percent %

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Description: Please do not give solution in image format thanku Riverside Incorporated makes one model of wooden canoe. Partial information for it follows:Number of Canoes Produced and SoldTotal costsVariable costsFixed costsTotal costsCost per unitVariable cost

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter11: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 11.2E: Identify cost graphs The following cost graphs illustrate various types of cost behavior: For each...

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